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Category Archives: Mobile Payments

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CFPB proposes policy to allow trial disclosure programs

Posted in Hot Issues, Mobile Payments, Technology

The CFPB has issued a proposed policy under which it would exempt individual companies, on a case-by-case basis, from current federal disclosure requirements to allow those companies to test trial disclosures.  The proposal, which is directed at “banks, thrifts, credit unions, and other financial services companies,” contemplates that participating companies would share test result data with… More >

Before presenting your idea . . .

Posted in CFPB General, Hot Issues, Mobile Payments, Technology

I regularly work with technology innovators to help them get their ideas cleaned up for financial institutions and to give them a headstart in understanding the types of risk concerns and controls that financial institutions are going to have and want.  To technology innovators who may be intrigued by the CFPB’s request for dialogue, I… More >

Waste not, want not

Posted in CFPB General, Hot Issues, Mobile Payments, Technology

The CFPB publicly acknowledged yesterday their interest in innovation in consumer financial services by launching Project Catalyst, as already reported in this blog.  It is quite the departure from precedent for a banking regulator to actually express interest in being supportive of new technologies and how they could improve consumer financial services.  For practitioners like… More >

Mobile payments: CFPB suggests new regulations may be needed

Posted in Hot Issues, Mobile Payments

We frequently hear that regulations take a long time to catch up with the technology.  On June 29, the House Subcommittee on Financial Institutions and Consumer Credit held a hearing to determine whether regulations need to catch up to cover consumer payments made using mobile devices. According to written testimony submitted by the CFPB’s Marla… More >